Denison Mines Corp. entered into an Impact Benefit Agreement (IBA) and an Exploration Agreement with the Métis Nation–Saskatchewan (MN‑S), its Northern Region 1 and Region 3, and 13 local communities. The agreements confirm the Métis parties’ consent to and support for the development and operation of Denison’s flagship Wheeler River uranium project in northern Saskatchewan.
The IBA establishes a framework for shared benefits that includes community investment initiatives, contracting and business‑development opportunities, training and employment pathways, and environmental monitoring. These provisions are designed to create long‑term economic and social value for the Métis communities while ensuring that the project’s environmental stewardship meets the highest standards.
The Exploration Agreement extends the partnership to all of Denison’s majority‑owned and operated projects within MN‑S’s Northern Region 1 and Region 3. By securing community consent for both development and exploration activities, Denison removes a key stakeholder‑relations hurdle, accelerates permitting, and shortens the de‑risking timeline, bringing the company closer to its first‑half‑2028 production target for the Phoenix deposit.
The agreement is achieved amid an ongoing legal challenge from the Peter Ballantyne Cree Nation, which has filed a judicial review to overturn the provincial approval of the Wheeler River project. Denison also announced the acquisition of adjacent claims from Skyharbour Resources for $18 million, further expanding its footprint and strengthening its position in the Athabasca Basin.
Management emphasized the significance of the partnership. MN‑S President Glen McCallum praised Denison’s early consultation and commitment to environmental reclamation, while CEO David Cates highlighted the trust and mutual respect that underpins the agreement, noting that it strengthens the company’s social license and positions it for 2028 production.
Denison maintains a debt‑free balance sheet but faces a funding gap for the construction of the Phoenix ISR mine. The IBA’s community‑investment and business‑development provisions are expected to improve access to local financing and community support, mitigating headwinds and enhancing the company’s ability to secure the necessary capital for the project’s next phase.
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